CORE Energy secures strategic investment

The INR200 crore (USD22.86 million - one crore is 10 million) investment was led by Indian investors Pankaj Prasoon, Ashish Kacholia, and "a consortium of like-minded investors aligned with India’s long-term energy sovereignty goals," the company said.

CORE Energy said the funding will allow it to expand precision nuclear engineering and high-tech manufacturing of critical components, while also supporting India’s Small Modular Reactor and Bharat Modular Reactor programmes, both central to the government’s Atmanirbhar Bharat initiative. The company added that the investment will boost its manufacturing, R&D and infrastructure capacity to deliver large-scale nuclear projects to international safety and quality standards, in line with India’s goal of achieving 100 GW of nuclear capacity by 2047.

CORE Energy holds ISO 19443 nuclear-quality certification and is currently carrying out refurbishment work at the Tarapur nuclear power plant, having been contracted by Nuclear Power Corporation of India Ltd to carry out the complete replacement of the primary recirculation piping in Tarapur units 1 and 2 - two boiling water reactors which entered commercial operation in 1969. This first-of-its-kind nuclear life-extension project is now nearing completion, the company told World Nuclear News.